Reported 8 months ago
The Fair Trade Commission held a meeting today to review the proposed acquisition of Tang Rong by Yieh United Steel, Yieh Hsing Enterprises, and their subsidiaries, concluding that the disadvantages of restricting competition outweigh the overall economic benefits, and thus prohibited the merger under Section 13 of the Fair Trade Act. This decision marks the second rejection of Yieh United's attempt to acquire Tang Rong since the Commission banned the merger in May 2009. The Commission emphasized that the combined market share of Yieh United and Tang Rong in the stainless steel flat plate market exceeds fifty percent, creating a highly concentrated market with significant risks of limiting competition.
Source: YAHOO